News / Maersk Line sails back into the black as cost-cutting compensates for drop in revenue

© Vladimir Serebryanskiy

Confounding the expectations of analysts, Maersk Line returned to profit in the first three months of the year.

The carrier posted a net gain of $32m, compared with a loss of $165m in the final quarter of 2015, on the back of a year-on-year 16% saving in unit costs and a 7% increase in volumes.

During this morning’s Q1 results conference call, Maersk Group chief executive Nils Andersen explained that the better-than-expected performance by the carrier was a consequence of its ongoing ...